- US Consumer Discretionaries have fallen back to old support relative to Staples.
- A broader picture also shows a correction to a prior congestion zone for *global* Consumer Discretionary stocks.
- While a bearish downtrend remains intact, traders should monitor these intermarket trends for the potential of a relief rally in risk assets.
- Indeed, whether or not we are truly in a bear market now, you can still see very significant short-sharp rallies (particularly when sentiment is extreme).
For further details see:
Relative Support For Consumer Discretionary Stocks